There are many decisions that entrepreneurs need to make to play the game of modern business successfully. Without a doubt, one of the most critical decisions is choosing the right location for your business. If your mind is set to the west, here are the best West Coast cities for starting a small business in 2021.
Choosing between the best West Coast cities for starting a small business
Making sure that your location is the right one for your start-up is crucial for its success. In 2020, small differences in doing business have become more significant than ever before. That's why you want to choose the best possible location. The West Coast has great cities where you can start your business. What you're looking for is a location with available early-stage funding deals, a high rate of entrepreneurship, and a city with high-growth company density.
If you already have a business, relocation can bring great results. What you need to do to start with your commercial relocation is to create an effective plan. While the process might seem initially overwhelming, the result could be worth it. Take a look at these cities and find out which one seems like the right choice for your small business.
Silicon Valley has a lot to offer
There should be no startup-related list without Silicon Valley. Even though the major tech giants established their headquarters here, Silicon Valley still attracts new businesses. This region has dominated this country's start-up ecosystem for a while, and it has been known as a start-up haven for more than one reason.
This is a high-cost location, and a significant amount of capital is required to establish a company. Despite that, it's a center for capital funding for attractive business ideas. Qualified ideas will entice partners, talent pools, and venture capitalists who will be willing to come to your side. Also, it's easy to connect with experienced mentors from the same field. In Silicon Valley, there's easy access to necessary information, with many seminars, workshops, and fairs related to innovations in technology.
San Jose, CA
If you have a tech start-up, consider booking your relocation with Hansen Bros. Moving & Storage and move your business to the financial, cultural, and political center of Silicon Valley, San Jose. The largest city in the Silicon Valley region has a start-up density of around ten percent higher than the national average. On the other side, the share of businesses that receive venture capital investment is three times higher than the national average. There's even the Silicon Valley Center for Entrepreneurship and the Silicon Valley Global Accelerator with many resources, mentorships, and other types of opportunities for entrepreneurs.
San Francisco might be famous for bohemians and artists. But, the city and the region are also renowned for high-tech innovations and entrepreneurship. As the venture capital draws in start-ups, more venture capital is pulled in. The final result is the bewildering number of start-ups. You can see why the city is called the "Hollywood of Technology."
There are multiple reasons why businesses choose this city as their location. Aside from many funding and start-up resources, you can find a talented workforce here with an outstanding education. The city might feel like a place from dreams, but in reality, San Francisco is a huge business center and a money machine. The cost of living is relatively high, especially the costs of housing and rent, which could be a problem for a small start-up business. The best way to decide if this city is the right location for your business is to weigh the pros and cons. It's essential to keep in mind the financial aspect and do your best to boost your start-up success. What makes the city irresistible to entrepreneurs despite the cost of living is the vibe and innovation.
You might know Los Angeles for movies, sun, and surf. But, you probably don't know it's an excellent place for starting a small business, too. Actually, it's the third-largest start-up hub in the country. In Los Angeles, there's a feeling of openness, optimism, and community. And this is precisely what makes this city one of the best West Coast locations for small businesses.
LA is primarily a center for tech entrepreneurship. The city has perhaps the largest concentration of engineering graduates in the US. If your business is related to these fields, look no further. With many opportunities for venture capital investors and investments, this city provides a fertile ground for your business to blossom. Even though there are many big companies in LA, its energy attracts more and more entrepreneurs. It’s important to know, however, that it's quite expensive compared to San Francisco.
Even though Seattle is home to some of the most famous companies globally, it's become a center for small business owners. Seattle is one of the fastest-growing cities in the country, and there are predictions that the population will increase significantly in the next couple of decades. What's more important is the booming tech industry and numerous unique and eclectic shops and coffeehouses, along with the vibrant residents.
The city historically attracts pioneers to come and start something new. And this happens with small business owners. The city truly has a welcoming entrepreneurial spirit. However, while there aren't any major tax incentives, many venture capital companies encourage the development of start-up companies and small businesses. Additionally, the University of Washington offers business programs as an excellent start for aspiring entrepreneurs.
Determining the best city for your business
These are some of the best West Coast cities for starting a small business. However, it's up to you to choose the right location. One of the parameters to keep in mind is a start-up and small business density. Also, you need to look for the share of firms receiving venture capital investment, the percentage of residents who are college graduates, and other similar factors. However, you need to look deeper for details related to you if you want to prepare your business for success. Choose wisely, as this decision will affect the trajectory of your business.
Photos used: by Pexels and Pixabay
Updated on 18. September 2021
Home Based Business Infonet